The Ministry of Housing has announced a set of important facilitation measures for investors and business owners in the tourism sector. These measures were approved during the latest meeting of the Board of Directors of the General Authority for Tourism Development and aim to boost investment in the sector. The facilitations include the following:
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Approval to reschedule outstanding installments owed by tourism development and investment companies, without changing the deadlines for upcoming future payments.
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Providing facilitations to tourism development companies in Taba and Nuweiba by extending their exceptional exemption period from payment for an additional six months.
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Granting companies operating in the tourism sector an additional free grace period of one year.
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Extending the grace period granted to tourism development and investment companies that have obtained preliminary approvals and are committed to paying their financial dues, enabling them to complete the procedures of the initial approval and move forward with final allocation.
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Working to provide new and promising tourism investment opportunities across various governorates, in coordination with investors, to enhance the sector’s attractiveness and strengthen its role in economic development.
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